Gotham Asset Management LLC Grows Stock Holdings in International Paper Company $IP

by · The Cerbat Gem

Gotham Asset Management LLC grew its stake in shares of International Paper Company (NYSE:IP – Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 364,030 shares of the basic materials company’s stock after acquiring an additional 45,299 shares during the period. Gotham Asset Management LLC’s holdings in International Paper were worth $19,421,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Greenleaf Trust lifted its holdings in International Paper by 2.5% during the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock valued at $480,000 after buying an additional 231 shares during the period. Csenge Advisory Group lifted its holdings in shares of International Paper by 1.5% in the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock worth $867,000 after buying an additional 234 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of International Paper by 6.0% in the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 235 shares during the period. Finally, Wimmer Associates 1 LLC grew its stake in International Paper by 3.8% during the fourth quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 270 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Up 0.7%

Shares of IP opened at $48.63 on Friday. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $49.72 and a two-hundred day simple moving average of $49.33. The firm has a market cap of $25.68 billion, a P/E ratio of -486.30, a P/E/G ratio of 0.55 and a beta of 1.05.

International Paper (NYSE:IP – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 42.9% compared to the same quarter last year. On average, analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 15th. International Paper’s dividend payout ratio (DPR) is -1,850.00%.

Wall Street Analyst Weigh In

IP has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Finally, UBS Group initiated coverage on shares of International Paper in a report on Wednesday, June 4th. They set a “buy” rating and a $60.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $55.65.

Read Our Latest Research Report on International Paper

International Paper Profile

(Free Report)

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

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